Stocks European shares routed as recession worries heighten European energy and material stocks sank nearly 6% on Friday, pushing a broader index of regional shares to near... Published 23 Sep, 2022 09:52pm
Stocks FTSE 100 hits three-month low after new economic plan spooks investors UK’s FTSE 100 hit three-month lows on Friday after Britain’s new finance minister Kwasi Kwarteng unveiled historic... Published 23 Sep, 2022 09:49pm
Stocks Stocks tumble, dollar soars and bonds plunge as recession fears grow NEW YORK: US and European stocks tumbled on Friday, the dollar scaled a 22-year high and bonds sold off again as... Updated 24 Sep, 2022 01:20am
Stocks Eighth consecutive decline: KSE-100 drops 0.75% in mixed trading Sharp decrease in Pakistan’s bond yields pull market lower Published 23 Sep, 2022 07:25pm
Financial 10-year yields hit 12-year highs as global tightening fears increase NEW YORK: Benchmark 10-year yields jumped to 12-year highs on Friday and two-year yields were the highest since 2007... Published 23 Sep, 2022 07:09pm
Business & Economy Pakistan seeking debt relief from bilateral creditors, not commercial bondholders, says Miftah Remarks come after bonds slumped to just half their face value on Friday Updated 23 Sep, 2022 08:10pm
Business & Economy Pakistan default fears spike on report of UN debt suspension advice One of the main sovereign bonds due for repayment in 2024 slumped more than 10 cents to about 50 cents on the dollar , while another due in 2027 fell to about 45 cents Updated 23 Sep, 2022 08:14pm
Money & Banking Credit Suisse shares sink to record low over revamp reports ZURICH: Shares of Credit Suisse plunged to a record low on Friday over reports about a massive revamp after a spate... Published 23 Sep, 2022 05:46pm
Companies Toyota Motor to close its plant in Russia MOSCOW: Japan’s Toyota Motor Corp has decided to close its plant in Russia, Russia’s Ministry of Industry and Trade... Published 23 Sep, 2022 05:38pm
Forex India forex reserves fall to near two-year low at $545.652bn MUMBAI: India’s foreign exchange reserves fell for a seventh straight week, dropping to $545.652 billion in the week... Published 23 Sep, 2022 05:34pm
Money & Banking China central bank says to steadily and prudently push forward yuan internationalisation SHANGHAI: China’s central bank said it will steadily and prudently push forward yuan internationalisation to promote... Published 23 Sep, 2022 05:31pm
Stocks Markets in United Arab Emirates fall on recession fears Stock exchanges in United Arab Emirates closed lower on Friday, tracking global equities, a day after the U.S.... Published 23 Sep, 2022 05:25pm
Stocks Sri Lankan shares end lower as financials weigh; post weekly fall Sri Lankan shares closed lower on Friday, marking their first weekly fall in four, as losses in financial stocks... Published 23 Sep, 2022 05:21pm
Commodities Copper slumps as rising interest rates heighten demand fears LONDON: Copper prices slid on Friday to their lowest in nearly two months on a strong dollar and fears of... Published 23 Sep, 2022 04:27pm
Commodities Palm falls over 2% as leading analyst warns of weak demand, improved supply KUALA LUMPUR: Malaysian palm oil futures fell for a second day after a leading analyst warned prices would plunge by... Published 23 Sep, 2022 04:23pm
Stocks Indian shares fall nearly 2% on fears of foreign funds outflow BENGALURU: Indian shares fell nearly 2% on Friday on fears an aggressive U.S. Federal Reserve would trigger foreign... Published 23 Sep, 2022 04:18pm
Forex China’s yuan ends near 28-month low, set for worst week since April SHANGHAI: China’s yuan finished the domestic trading session at a near 28-month low on Friday and looked set for its... Published 23 Sep, 2022 02:14pm
Forex Pound hits 37-year low below $1.12 as recession fears grow HONG KONG: The pound fell to a fresh 37-year low against the dollar Friday as traders grow increasingly worried... Published 23 Sep, 2022 02:04pm
Stocks European shares extend falls, Credit Suisse hits record low European stocks extended falls on Friday, dragged down by Credit Suisse and as an array of data pointing to an... Published 23 Sep, 2022 02:00pm
Forex Rouble extends recovery, heads towards 60 vs US dollar LONDON: The Russian rouble strengthened on Thursday, heading towards the 60 mark against the dollar, extending its... Published 23 Sep, 2022 01:57pm
Business & Economy IMF has indicated easing programme conditions after floods: Miftah Ismail Finance minister says rupee's depreciation will come under control in coming days Updated 23 Sep, 2022 05:56pm
Forex Indian Rupee hits record low, traders point to RBI intervention MUMBAI: The Indian rupee slumped to a new low against the dollar on Friday before clawing back some of the losses on... Published 23 Sep, 2022 12:19pm
Bullion Rate Spot gold neutral in $1,666-$1,685 range SINGAPORE: Spot gold looks neutral in a range of $1,666 to $1,685 per ounce, and an escape could suggest a... Published 23 Sep, 2022 12:11pm
Commodities Palm falls on recession jitters but set for weekly rise KUALA LUMPUR: Malaysian palm oil futures were set for a second straight weekly gain, even as the market extended... Published 23 Sep, 2022 12:09pm
Forex Asian FX subdued on dollar strength; peso outperforms Emerging Asian currencies broadly fell on Friday against a stronger dollar, buoyed by a hawkish US Federal Reserve,... Published 23 Sep, 2022 12:07pm
Forex South African rand little changed after volatile week JOHANNESBURG: The South African rand was little changed in early trade on Friday after a volatile week. The rand... Published 23 Sep, 2022 12:05pm
Commodities CBOT soybeans may test support at $14.37-1/4 SINGAPORE: The CBOT soybean November contract may test a support at $14.37-1/4 per bushel, a break below may open... Published 23 Sep, 2022 12:03pm
Commodities India’s top palm oil buyer expects 23% jump in imports AGRA: India’s palm oil imports in 2022/23 could jump 23% from a year earlier to 9.5 million tonnes, the highest in... Published 23 Sep, 2022 12:01pm
Forex 15-session losing streak ends: Pakistan's rupee appreciates marginally Gains 0.03%, the first time since Sep 1 that the rupee has ended higher against US dollar Updated 23 Sep, 2022 06:48pm
Stocks China stocks fall on foreign outflow concerns, COVID woes SHANGHAI: China stocks extended losses on Friday, weighed down by foreign fund outflow concerns, COVID-19 woes and... Published 23 Sep, 2022 11:15am
Mutual Funds Indian Bond yields jump tracking an unrelenting spike in US peers MUMBAI: Indian government bond yields surged in early trades on Friday, as a constant rise in US yields hurt... Published 23 Sep, 2022 11:12am
Energy China’s Sinopec launches carbon capture, investment unit SINGAPORE: China Petrochemical Corp, or Sinopec, has launched a specialised unit to engage in capturing and storing... Published 23 Sep, 2022 11:10am
Bullion Rate Gold inches lower as firm dollar, Fed rate hike hurt appeal Gold prices edged down on Friday as the dollar hovered around a 20-year peak, while the likelihood of more... Published 23 Sep, 2022 11:06am
Forex Australia, NZ dollars wallow at over two-year lows as risk aversion reigns SYDNEY: The Australian and New Zealand dollars huddled near their lowest in over two years on Friday, as an... Published 23 Sep, 2022 10:58am
Stocks Australia shares hit over two-month low on Fed’s stance; banks, tech stocks weigh Australian shares hit a more than two-month low on Friday, as investors returning to trading after a one-day holiday... Published 23 Sep, 2022 10:57am
Forex Yen propped up after intervention, dollar powers through SINGAPORE: The yen was on track for its first weekly gain in more than a month on Friday after Japanese authorities... Published 23 Sep, 2022 10:56am
Financial Malaysia central bank says no plans for capital controls, ringgit re-pegging KUALA LUMPUR: Malaysia will not resort to capital controls or re-pegging the ringgit, and the currency’s level will... Published 23 Sep, 2022 10:51am
Singapore August core inflation rises 5.1% vs forecast 5.0% SINGAPORE: Singapore’s key consumer price gauge rose 5.1% in August, slightly more than forecast, driven by larger... Published 23 Sep, 2022 10:48am
Stocks Indian shares fall as banks, financials drag BENGALURU: Indian shares opened lower on Friday, dragged by banks and financials and mirroring their Asian peers, as... Published 23 Sep, 2022 10:45am
Energy Brent oil may rise into $91.66-$92.64 range Brent oil may rise into a range of $91.66-$92.64 per barrel, as it seems to be riding on a wave C. The contract... Published 23 Sep, 2022 10:44am
Commodities Palm oil may revisit Sept 20 low of 3,631 ringgit SINGAPORE: Palm oil may revisit its Sept. 20 low of 3,631 ringgit per tonne, following its failure to break a... Published 23 Sep, 2022 10:43am
Energy US oil biased to retest support at $82.42 SINGAPORE: US oil is biased to retest a support at $82.42 per barrel, a break below may open the way towards... Published 23 Sep, 2022 10:40am
Energy Oil plunges to eight-month low on strong dollar, recession fears NEW YORK: Oil prices plunged about 5% to an eight-month low on Friday as the U.S. dollar hit its strongest level in... Updated 23 Sep, 2022 07:58pm
Financial Japan is chasing its tail on yen intervention SINGAPORE: As the Bank of Japan steps into currency markets for the first time in decades to defend a battered yen,... Published 23 Sep, 2022 10:12am
Britain unveils anti-inflation budget as recession looms LONDON: The UK’s new government unveils Friday multibillion-pound measures aimed at supporting households and... Published 23 Sep, 2022 09:58am
Stocks Hong Kong stocks extend losses ahead of weekend HONG KONG: Hong Kong shares finished a tough week with another loss on Friday as global markets were battered by... Updated 23 Sep, 2022 02:06pm
Stocks Asian markets suffer further losses as central banks turn screws HONG KONG: Asian markets fell again Friday as part of a global sell-off fuelled by recession fears after central... Published 23 Sep, 2022 09:47am
Industry FPCCI urges SNGPL to resolve problem of low gas pressure LAHORE: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Chairman, Muhammad Nadeem Qureshi... Published 23 Sep, 2022 07:39am
Financial services market: SECP approves eight applicants for testing innovative business solutions ISLAMABAD: The Securities and Exchange Commission of Pakistan’s Regulatory Sandbox continues to lead innovation ... Published 23 Sep, 2022 07:20am
Taxes FBR to develop model on avoidance of double taxation ISLAMABAD: The Federal Board of Revenue (FBR) will develop a model for the Avoidance of Double Taxation convention ... Published 23 Sep, 2022 07:17am
IT, ITeS export remittances surge by 14pc in Aug ISLAMABAD: The IT and IT-enabled Services (ITeS) export remittances comprising computer services and call center... Published 23 Sep, 2022 07:06am
Industry Local industry in a shambles: Estimated value of smuggled tyres has topped Rs300bn, says GTR KARACHI: The local tyre industry is going through a difficult time as the total estimated value of smuggled tyres... Published 23 Sep, 2022 07:04am
Industry Bakhtawari elected president of ICCI ISLAMABAD: The nominated presidential candidate of Founders Group, Ahsan Zafar Bakhtawari has secured record 987... Published 23 Sep, 2022 06:41am
Forex reserves fall by $247m KARACHI: The country’s total liquid foreign exchange reserves declined by $247 million during the last week.... Published 23 Sep, 2022 06:15am
Jul-Aug FDI down 26pc YoY KARACHI: The Foreign Direct Investment (FDI) in Pakistan fell by 26 percent in the first two months of this fiscal... Published 23 Sep, 2022 06:14am
Companies Defying odds, foodpanda Pakistan to be profitable next year: CEO KARACHI: Foodpanda Pakistan will be profitable next year, said its managing director and CEO Muntaqa Peracha, a... Updated 23 Sep, 2022 12:47pm
July LSMI output slumps 16.5pc MoM, 1.4pc YoY ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) output has declined by 16.5 percent on a month-on month... Updated 23 Sep, 2022 09:54am
Companies Cash-strapped PSO’s receivables hit Rs583.2bn mark ISLAMABAD: Faced with serious financial constraints, Pakistan State Oil (PSO) has repeatedly approached the federal... Updated 23 Sep, 2022 09:50am
Japan intervenes in FX market to stem yen falls after BOJ keeps super-low rates TOKYO: Japan intervened in the foreign exchange market on Thursday to buy yen for the first time since 1998, in an... Updated 23 Sep, 2022 05:41pm
Industry TDAP holds webinar on trade between Pakistan, Australia LAHORE: Trade Development Authority of Pakistan, Lahore hosted a webinar on ‘Pakistan-Australia Trade Potential’... Published 23 Sep, 2022 05:50am
Money & Banking Indian shares fall BENGALURU: Indian shares ended lower on Thursday, while the rupee closed at a record low, after the US Federal... Published 23 Sep, 2022 05:50am
Money & Banking Yen surges after Japan intervenes with first support since 1998 NEW YORK: The Japanese yen jumped across the board on Thursday after monetary authorities intervened in the foreign... Published 23 Sep, 2022 05:50am
Spain to tax rich to offset inflation relief measures MADRID: The Spanish government said Thursday it will slap a temporary tax on the wealthiest one percent of the... Published 23 Sep, 2022 05:50am
US weekly jobless claims rise moderately WASHINGTON: The number of Americans filing new claims for unemployment benefits increased moderately last week,... Published 23 Sep, 2022 05:50am
Industry SAI calls for end to daily outages of eight hours KARACHI: President of the Site Association of Industry (SAI) Abdul Rasheed has expressed serious concerns over... Published 23 Sep, 2022 05:50am
Industry PQAMCL announces approval of Shariah Compliant Collective Investment Schemes KARACHI: The Pak-Qatar Asset Management Company Limited (PQAMCL) has announced that the Security and Exchange... Published 23 Sep, 2022 05:50am
Industry ‘Top brass must put national priorities in order’: PKR freefall and high inflation jeopardize our future: KCCI chief KARACHI: Karachi Chamber of Commerce & Industry (KCCI) President Muhammad Idrees, while highlighting the impact... Published 23 Sep, 2022 05:50am